SECURITIES AND EXCHANGE COMMISSION
                                WASHINGTON, D.C.


                                   FORM 10-QSB

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE
    ACT OF 1934 FOR THE QUARTER ENDED MARCH 31, 2003

                                       OR

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OT 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934 FOR THE TRANSITION PERIOD FROM _____________ TO ____________.

                         FDIC Certificate Number 26588-8


                       DARLINGTON COUNTY BANCSHARES, INC.
             (Exact Name of Registrant as Specified in the Charter)


                   Incorporated in the State of South Carolina
                I.R.S. Employer Identification Number 57-0805621


                    202 Cashua Street, Darlington, S.C. 29532
                    (Address of Principal Executive Offices)


                                 (843) 395-1956
              (Registrant's Telephone Number, including Area Code)



Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months(or  for such shorter  periods that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

                                [ X ] Yes [ ] No

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock, as of the latest practicable date.


   COMMON STOCK - $.01 PAR VALUE; 158,000 SHARES OUTSTANDING ON APRIL 30, 2003




<PAGE>

                       DARLINGTON COUNTY BANCSHARES, INC.

                           CONSOLIDATED BALANCE SHEETS
<TABLE>
<CAPTION>
PART I - FINANCIAL INFORMATION

ITEM 1 - FINANCIAL STATEMENTS
                                                                                              MARCH 31,        DECEMBER 31,
                                                                                                2003               2002
                                                                                          --------------      -------------
   (in thousands)                                                                            (UNAUDITED)
ASSETS
<S>                                                                                       <C>                 <C>
Cash and cash equivalents:
   Cash and due from banks                                                                $        1,267      $       1,144
   Federal funds sold                                                                              4,375              2,386
                                                                                          --------------      -------------
Total cash and cash equivalents                                                                    5,642              3,530
                                                                                          --------------      -------------

Securities available-for-sale                                                                      5,341              5,905
Securities held-to-maturity                                                                          641                641
Nonmarketable equity securities                                                                       50                 50
                                                                                          --------------      -------------
     Total investment securities                                                                   6,032              6,596
                                                                                          --------------      -------------

Loans                                                                                             18,856             19,015
Less allowance for loan losses                                                                       195                206
                                                                                          --------------      -------------
     Loans, net                                                                                   18,661             18,809
Premises and equipment, net                                                                          983              1,003
Accrued interest receivable                                                                          254                282
Other assets                                                                                          61                 47
                                                                                          --------------      -------------
Total assets                                                                              $       31,633      $      30,267
                                                                                          ==============      =============
LIABILITIES
Deposits
   Demand                                                                                 $        4,847      $       4,607
   Savings and NOW                                                                                16,701             15,252
   Other time deposits                                                                             6,157              6,345
                                                                                          --------------      -------------
     Total deposits                                                                               27,705             26,204
Accrued interest payable                                                                              27                 29
Other liabilities                                                                                     51                 88
                                                                                          --------------      -------------
     Total Liabilities                                                                            27,783             26,321

STOCKHOLDERS' EQUITY
Common stock, $.01 par value, 1,000,000 shares authorized,
   158,000 shares issued and outstanding at March 31, 2003
   and December 31, 2002                                                                               2                  2
Capital in excess of par value of stock                                                            1,618              1,618
Retained earnings                                                                                  2,158              2,260
Accumulated other comprehensive income                                                                72                 67
                                                                                          --------------      -------------
     Total stockholders' equity                                                                    3,850              3,946
                                                                                          --------------      -------------
     Total liabilities and stockholders' equity                                           $       31,633      $      30,267
                                                                                          ==============      =============
</TABLE>

See notes to consolidated financial statements.

                                       2
<PAGE>
<TABLE>
<CAPTION>
                        CONSOLIDATED STATEMENTS OF INCOME
                                   (UNAUDITED)

                                                                                                 THREE MONTHS ENDED
                                                                                                       MARCH 31,
(in thousands)                                                                                 2003               2002
                                                                                          --------------      -------------
INTEREST INCOME:
<S>                                                                                       <C>                 <C>
   Loans, including fees                                                                  $          354      $         338
   Investment securities:
     Taxable                                                                                          60                102
     Nontaxable                                                                                        7                  8
   Federal funds sold                                                                                 11                 10
                                                                                          --------------      -------------
       Total interest income                                                                         432                458
                                                                                          --------------      -------------
INTEREST EXPENSE
   Deposits                                                                                           93                134
                                                                                          --------------      -------------
       Total interest expense                                                                         93                134
                                                                                          --------------      -------------
NET INTEREST INCOME                                                                                  339                324
Provision for loan losses                                                                             18                 16
                                                                                          --------------      -------------
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES                                                  321                308
                                                                                          --------------      -------------
NONINTEREST INCOME
   Service charges on deposit accounts                                                                81                 82
   Other service charges, commissions and fees                                                         5                  3
                                                                                          --------------      -------------
       Total noninterest income                                                                       86                 85
                                                                                          --------------      -------------
NONINTEREST EXPENSES
   Salaries and employee benefits                                                                    177                161
   Data processing                                                                                    36                 32
   Occupancy                                                                                          19                 18
   Furniture and equipment                                                                            27                 21
   Other                                                                                              63                 69
                                                                                          --------------      -------------
       Total noninterest expense                                                                     322                301
                                                                                          --------------      -------------
INCOME BEFORE INCOME TAXES                                                                            85                 92
Provision for income taxes                                                                            28                 30
                                                                                          --------------      -------------
NET INCOME                                                                                $           57      $          62
                                                                                          ==============      =============
EARNINGS PER SHARE
Average shares outstanding                                                                       158,000            158,000
                                                                                          ==============      =============
Net income                                                                                $         0.36      $        0.39
                                                                                          ==============      =============
Dividends paid                                                                            $         1.00      $        1.00
                                                                                          ==============      =============
</TABLE>

See notes to consolidated financial statements.

                                       3
<PAGE>
<TABLE>
<CAPTION>
                              CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND COMPREHENSIVE INCOME
                                                             (UNAUDITED)


(in thousands, except shares)
                                                                                                  ACCUMULATED
                                                                   CAPITAL IN                        OTHER
                                                                    EXCESS OF                    COMPREHENSIVE
                                                   COMMON STOCK     PAR VALUE       RETAINED         INCOME
                                        SHARES        AMOUNT        OF STOCK        EARNINGS         (LOSS)        TOTAL
                                    -----------    -----------    -----------     -----------    -----------    -----------
<S>                                     <C>        <C>            <C>             <C>            <C>            <C>
BALANCE, JANUARY 1, 2002                158,000    $         2    $     1,618     $     2,096    $       (22)   $     3,694
   Net income for period                      -              -              -              62              -             62

   Other comprehensive income, net of tax:
       Unrealized loss on
         securities available
         for sale                             -              -              -               -            (15)           (15)
                                                                                                                ------------

       Comprehensive income                                                                                              47

   Cash dividend ($1.00
     per share                                -              -              -            (158)             -           (158)
                                    -----------    -----------    -----------     ------------   -----------    ------------

Balance, March 31, 2002                 158,000    $         2    $     1,618     $     2,000    $       (37)   $     3,583
                                    ===========    ===========    ===========     ============   ===========    ============

BALANCE, JANUARY 1, 2003                158,000    $         2    $     1,618     $     2,259    $        67    $     3,946

   Net income for period                      -              -              -              57              -             57

   Other comprehensive income, net of tax:
       Unrealized gain on
         securities available
         for sale                             -              -              -               -              5              5
                                                                                                                -----------

       Comprehensive income                                                                                              62

   Cash dividend ($1.00
     per share                                -              -              -            (158)             -           (158)
                                    -----------    -----------    -----------     ------------   -----------    ------------

Balance, March 31, 2003                 158,000    $         2    $     1,618     $     2,158    $        72    $     3,850
                                    ===========    ===========    ===========     ============   ===========    ===========

</TABLE>


See notes to consolidated financial statements.

                                       4
<PAGE>
<TABLE>
<CAPTION>
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)


                                                                                                 THREE MONTHS ENDED
                                                                                                       MARCH 31,
(Dollars in thousands)                                                                         2003               2002
                                                                                          --------------      -------------
OPERATING ACTIVITIES
<S>                                                                                       <C>                 <C>
   Net income                                                                             $           57      $          62
   Adjustments to reconcile net income to net cash
     provided by operating activities
       Provision for loan losses                                                                      18                 16
       Depreciation                                                                                   20                 18
       (Increase) decrease in other assets                                                            14                 38
       Decrease in other liabilities                                                                 (39)               (53)
                                                                                          ---------------     -------------
         Net cash provided by operating activities                                                    70                 81
                                                                                          --------------      -------------
INVESTING ACTIVITIES
   (Increase) decrease in federal funds sold                                                      (1,989)             1,272
   Proceeds from maturities of investment securities
     available for sale                                                                            1,587                620
   Purchase of investment securities available for sale                                           (1,018)            (1,000)
   Net decrease in loans                                                                             130               (286)
   Purchase of equipment                                                                               -                 (1)
                                                                                          --------------      -------------
         Net cash provided by (used for) investing activities                                     (1,290)               605
                                                                                          ---------------     -------------
FINANCING ACTIVITIES
   Net increase in deposits                                                                        1,501                321
   Cash dividends paid                                                                              (158)              (158)
                                                                                          ---------------     -------------
         Net cash provided by financing activities                                                 1,343                163
                                                                                          --------------      -------------
         Increase in cash and cash equivalents                                                       123                849

CASH AND DUE FROM BANKS, BEGINNING OF PERIOD                                                       1,144                315
                                                                                          --------------      -------------
CASH AND DUE FROM BANKS, END OF PERIOD                                                    $        1,267      $       1,164
                                                                                          ==============      =============
CASH PAID DURING THE PERIOD FOR
   Interest                                                                               $       95,000      $     154,900
                                                                                          ==============      =============
</TABLE>


See notes to consolidated financial statements.

                                       5
<PAGE>

NOTE 1 - BASIS OF PRESENTATION

The accompanying unaudited financial statements have been prepared in accordance
with generally accepted accounting  principles for interim financial information
and with the  instructions  to Form 10-QSB and item 310(b) of Regulation  S-B of
the Securities  and Exchange  Commission.  Accordingly,  they do not include all
information and footnotes required by generally accepted  accounting  principles
for complete financial  statements.  However, in the opinion of management,  all
adjustments  (consisting of normal recurring  adjustments)  considered necessary
for a fair presentation have been included.

NOTE 2 - NET INCOME PER SHARE

 Net income per share is computed on the basis of the weighted average number of
common shares  outstanding in accordance with Statement of Financial  Accounting
Standards No. 128,  "Earnings per Share". The Bank does not have any instruments
which are dilutive;  therefore,  only basic net income per share of common stock
is presented.

ITEM 2. - MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  FINANCIAL  CONDITION  AND
          RESULTS OF OPERATIONS

The following is a discussion  of our  financial  condition as of March 31, 2003
compared to December  31,  2002,  and the  results of  operations  for the three
months  ended March 31, 2003  compared to the three months ended March 31, 2002.
These  comments  should  be read in  conjunction  with our  condensed  financial
statements and  accompanying  notes  appearing in this report and in conjunction
with the financial  statements  and related notes and  disclosures in our Annual
Report on Form 10-KSB for the year ended December 31, 2002.

This  report  contains   "forward-looking   statements"   relating  to,  without
limitation, future economic performance,  plans and objectives of management for
future  operations,  and  projections of revenues and other financial items that
are based on the beliefs of our management,  as well as assumptions  made by and
information   currently  available  to  our  management.   The  words  "expect,"
"estimate,"  "anticipate,"  and "believe," as well as similar  expressions,  are
intended to identify forward-looking  statements.  Our actual results may differ
materially from the results discussed in the forward-looking statements, and our
operating   performance   each   quarter  is   subject  to  various   risks  and
uncertainties.  The Private Securities  Litigation Reform Act of 1995 provides a
safe harbor for forward-looking statements. In order to comply with terms of the
safe  harbor,  the  Company  notes  that a variety of  factors  could  cause the
Company's   actual  results  and  experience  to  differ   materially  from  the
anticipated   results  or  other   expectations   expressed  in  the   Company's
forward-looking  statements.  The risks and  uncertainties  that may  affect the
operations,  performances,  development  and results of the  Company's  business
include,  but are not limited to, the following:  risks from changes in economic
and industry  conditions;  changes in interest  rates;  risks inherent in making
loans including  repayment  risks and value of collateral;  dependence on senior
management;  and recently-enacted or proposed legislation.  Statements contained
in this filing  regarding  the demand for the  Company's  products and services,
changing  economic  conditions,  interest rates,  consumer spending and numerous
other factors may be forward-looking statements and are subject to uncertainties
and risks.  When relying on  forward-looking  statements to make  decisions with
respect to the Company, investors and others are cautioned to consider these and
other risks and uncertainties.

Such forward-looking  statements speak only of the date on which such statements
are made. We undertake no obligation to update any forward-looking  statement to
reflect events or  circumstances  after the date on which such statement is made
to  reflect  the  occurrence  of  unanticipated  events.  In  addition,  certain
statements  in future  filings by the Company with the  Securities  and Exchange
Commission, in press releases and in oral and written statements made by or with
the  approval  of the  Company  which  are not  statements  of  historical  fact
constitute forward-looking statements.


RESULTS OF OPERATIONS

The  Company's net income for the first quarter of 2003 and 2002 was $57,000 and
$62,000,  respectively.  Net income per share for the first  quarter of 2003 and
2002 was $.36 and $.39 per share, respectively.



                                       6
<PAGE>

ITEM 2. - MANAGEMENT'S DISCUSSION  AND  ANALYSIS  OF  FINANCIAL  CONDITION   AND
          RESULTS OF OPERATIONS, (CONTINUED)

NET INTEREST INCOME

Net interest  income is the  difference  between the interest  earned on earning
assets and the interest paid for funds  acquired to support  those  assets.  Net
interest income,  the principal source of the Bank's earnings,  was $339,000 and
$324,000 for the three months ended March 31, 2003 and 2002, respectively.

Changes that affect net  interest  income are changes in the average rate earned
on interest-earning assets, changes in the average rate paid on interest-bearing
liabilities,   and  changes  in  the  volume  of  interest-earning   assets  and
interest-bearing liabilities.

Average  interest-earning  assets for the first  quarter of  2003  increased  by
$93,894 or .32%  over the same period in 2002,  while  average  interest-bearing
liabilities  decreased by $544,819  or 2.37% comparing the first quarter of 2003
with the first quarter of 2002.

<TABLE>
<CAPTION>

                                                    AVERAGE BALANCES, INCOME AND EXPENSES, AND RATES
                                    ---------------------------------------------------------------------------------------
                                                          FOR THE THREE MONTHS ENDED MARCH 31,
                                    ---------------------------------------------------------------------------------------
                                                      2003                                          2002
                                    -----------------------------------------   -------------------------------------------
                                         AVERAGE      INCOME/      ANNUALIZED        AVERAGE        INCOME/      ANNUALIZED
                                         BALANCE      EXPENSE      YIELD/RATE        BALANCE        EXPENSE      YIELD/RATE

<S>                                 <C>            <C>                  <C>     <C>              <C>                  <C>
Federal funds sold                  $   3,758,544  $    11,000          1.17%   $   2,374,667    $    10,000          1.68%
Investment securities                   6,361,498       67,000          4.22%       9,187,311        110,000          4.79%
Loans                                  19,034,743      354,000          7.46%      17,498,913        338,000          7.73%
                                    -------------  -----------                  -------------    -----------
   Total earning assets             $  29,154,785      432,000          5.94%   $  29,060,891        458,000          6.30%
                                    =============                               =============
   Total interest bearing
       liabilities                  $  22,436,690       93,000          1.66%   $  22,981,509        134,000          2.36%
                                    =============  -----------    -----------   =============    -----------      --------

Net interest spread                                                     4.28%                                         3.94%

Net interest income/margin                         $   339,000          4.66%                    $   324,000          4.46%
                                                   ===========                                   ===========      ========
</TABLE>

As  reflected  above,  for the first three  months of 2003 the average  yield on
earning   assets  amounts   amounted  to  5.94%,   while  the  average  cost  of
interest-bearing liabilities was 1.66%. For the same period of 2002, the average
yield on  earning  assets  was 6.30% and the  average  cost of  interest-bearing
liabilities  was  2.36%.  The  decrease  in  the  yield  on  earning  assets  is
attributable to a decrease in the yields on all interest earning assets. The net
interest margin is computed by subtracting interest expense from interest income
and dividing the resulting figure by average  interest-earning  assets.  The net
interest  margin for the period  ended March 31, 2003 was 4.66% and for 2002 was
4.46%.  This slight increase was the result of a greater decrease in the rate on
interest-bearing  deposits  than the rates  earned on  average  interest-earning
assets.

The following  table  represents  changes in the  Company's net interest  income
which  are   primarily   a  result  of  changes  in  volume  and  rates  of  its
interest-earning  assets and interest-bearing  liabilities.  The increase in net
interest  income is due to  increased  volume of  earning  assets  and  interest
bearing  liabilities  and a decrease in rates on earning  assets with a slightly
larger decrease in rates on interest bearing liabilities.
<TABLE>
<CAPTION>
                                                                             Analysis of changes in net interest income
                                                                                       For the three months ended
                                                                                      March 31, 2003 versus 2002

                                                                           Volume             Rate             Net Change
                                                                           ------             ----             ----------

<S>                                                                    <C>                <C>                 <C>
     Federal fund sold                                                 $       4,684      $       (3,684)     $       1,000
     Investment securities                                                   (30,872)            (12,128)           (43,000)
     Loans                                                                    28,958             (12,958)            16,000
                                                                       -------------      ---------------     -------------
       Total earning assets                                                    2,770             (28,770)           (26,000)
       Total interest on interest-bearing liabilities                       (147,415)           (105,415)           (42,000)
                                                                       --------------     ---------------     --------------
     Net interest income                                               $     150,185      $     (134,185)     $      16,000
                                                                       =============      ===============     =============
</TABLE>

                                       7
<PAGE>

ITEM 2. - MANAGEMENT'S DISCUSSION  AND  ANALYSIS  OF  FINANCIAL  CONDITION   AND
          RESULTS OF OPERATIONS, (CONTINUED)

NONINTEREST INCOME

Noninterest  income was $86,000 and $85,000 for the three months ended March 31,
2003 and 2002. Noninterest income increased slightly due to an increase in other
service charges, commission and fees.

NONINTEREST EXPENSES

Noninterest  expenses  for the three  months  ended March 31, 2003 and 2002 were
$322,000 and $301,000,  respectively.  Noninterest  expenses increased primarily
due to the cost of living pay  increases to employees  and an increase in health
insurance costs.

PROVISION FOR LOAN LOSSES

The allowance for loan losses was 1.03% of loans, net of unearned income,  as of
March 31, 2003 compared to 1.08% as of December 31, 2002. The provision for loan
losses was $18,000 and  $16,000  for the three  months  ended March 31, 2003 and
2002,  respectively.  Management  reviews the  adequacy of the  allowance  on an
ongoing basis and believes it is adequate.

LIQUIDITY

Liquidity  is the  ability  to  meet  current  and  future  obligations  through
liquidation or maturity of existing  assets or the  acquisition of  liabilities.
The Company manages both assets and liabilities to achieve appropriate levels of
liquidity.  Cash and short-term investments are the Company's primary sources of
asset liquidity.  These funds provide a cushion against short-term  fluctuations
in cash flow from both  deposits  and loans.  The  investment  portfolio  is the
Bank's principal source of secondary asset liquidity.  However, the availability
of this  source of funds is  influenced  by market  conditions.  Individual  and
commercial   deposits  are  the  Bank's  primary  source  of  funds  for  credit
activities.  Management  believes  that  the  Company's  liquidity  sources  are
adequate to meet its operating needs.

LOANS

Loans  decreased  slightly  during  the first  three  months of 2003.  Net loans
decreased  $148,000,  or .78%,  during  the  period.  As shown  below,  the main
component of growth in the loan portfolio was  commercial  and industrial  loans
which  increased  9.06%,  or $334,000  from December 31, 2002 to March 31, 2003.
However,  decreases in real estate mortgage loans and  agriculture  loans offset
the increase.  Balances within the major loans receivable categories as of March
31, 2003 and December 31, 2002 are as follows:
<TABLE>
<CAPTION>

                                                       March 31,        December 31,
                                                         2003               2002
                                                    ----------------  -----------------
<S>                                                     <C>               <C>
 Real estate - construction                             $ 1,085,000       $    732,000
 Real estate - mortgage                                   7,981,000          8,714,000
 Commercial and industrial                                4,141,000          3,797,000
 Agriculture                                                799,000          1,034,000
 Consumer and other                                       4,850,000          4,738,000
                                                        -----------       ------------
                                                        $18,856,000       $ 19,015,000
                                                        ===========       ============
</TABLE>




                                       8
<PAGE>

ITEM 2. - MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  FINANCIAL  CONDITION  AND
          RESULTS OF OPERATIONS, (CONTINUED)

CRITICAL ACCOUNTING POLICIES

We have adopted  various  accounting  policies  which govern the  application of
accounting principles generally accepted in the United States in the preparation
of our financial statements.  Our significant  accounting policies are described
in the notes to the  consolidated  financial  statements at December 31, 2002 as
filed on our annual report on Form 10-KSB.  Certain accounting  policies involve
significant  judgments and assumptions by us which have a material impact on the
carrying value of certain assets and  liabilities.  We consider these accounting
policies to be critical  accounting  policies.  The judgments and assumptions we
use are based on the historical  experience and other factors,  which we believe
to be reasonable under the circumstances. Because of the nature of the judgments
and  assumptions we make,  actual results could differ from these  judgments and
estimates  which could have a major impact on our carrying  values of assets and
liabilities and our results of operations.

We believe the  allowance for loan losses is a critical  accounting  policy that
requires the most significant judgments and estimates used in preparation of our
consolidated  financial  statements.  Refer to the  portions  of our 2002 Annual
Report on Form 10-KSB and this Form 10-QSB that address our  allowance  for loan
losses for a description of our processes and  methodology  for  determining our
allowance  for loan  losses.  There  have  been no  significant  changes  in our
critical accounting policies since December 31, 2002.

CAPITAL RESOURCES

The capital base for the Company decreased by $96,000 for the first three months
of 2003.  This net  change  includes  an  increase  to equity  for net income of
$57,000 and an increase in unrealized  gain on  investment  securities of $5,000
offset by cash  dividends of $158,000.  The Company's  equity to asset ratio was
12.17% on March 31, 2003, as compared to 13.0% on December 31, 2002.

The Federal Deposit  Insurance  Corporation has issued guidelines for risk-based
capital  requirements.  As of March  31,  2003,  the Bank  exceeds  the  capital
requirement levels that are required to be maintained.
<TABLE>
<CAPTION>

                                                             CAPITAL RATIOS (AMOUNTS IN THOUSANDS)
                                 ----------------------------------------------------------------------------------------
                                                                         WELL CAPITALIZED          ADEQUATELY CAPITALIZED
                                             ACTUAL                        REQUIREMENT                   REQUIREMENT
                                 ---------------------------    --------------------------     --------------------------
                                     AMOUNT           RATIO         AMOUNT          RATIO          AMOUNT          RATIO
                                     ------           -----         ------          -----          ------          -----
<S>                                <C>                <C>         <C>                <C>         <C>                 <C>
Total capital (to risk
   weighted assets)                $   3,948          18.63%      $   2,119          10.0%       $   1,695           8.0%

Tier 1 capital (to risk
   weighted assets)                $   3,753          17.71%      $   1,271           6.0%       $     848           4.0%

Tier 1 capital (to
   average assets)                 $   3,753          11.95%      $   1,571           5.0%       $   1,256           4.0%

</TABLE>

ASSET QUALITY

Nonperforming  assets as a percentage of loans and foreclosed  property  totaled
..24%  and  .31% as of  March  31,  2003 and  December  31,  2002,  respectively.
Nonperforming  assets were  $45,000 as of March 31, 2003 and $58,800 at December
31, 2002.

EFFECTS OF REGULATORY ACTION

The  management  of the Company is not aware of any current  recommendations  by
regulatory  authorities,  which if they  were to be  implemented,  would  have a
material effect on liquidity, capital resources, or operations.

IMPACT OF INFLATION

Unlike  most  industrial  companies,  the assets and  liabilities  of  financial
institutions  such as the Bank are  primarily  monetary  in  nature.  Therefore,
interest rates have a more significant  impact on the Bank's performance than do
the effects of changes in the general rate of  inflation  and changes in prices.
In addition, interest rates do not necessarily move in the same magnitude as the
prices of goods and  services.  As  discussed  previously,  management  seeks to
manage the  relationships  between interest  sensitive assets and liabilities in
order to protect against wide rate fluctuations,  including those resulting from
inflation.

                                       9
<PAGE>

ITEM 2. - MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  FINANCIAL  CONDITION  AND
          RESULTS OF OPERATIONS, (CONTINUED)

RECENTLY ISSUED ACCOUNTING STANDARDS

Accounting   pronouncements   recently  issued  or  proposed  by  the  Financial
Accounting  Standards  Board are not  expected to have a material  effect on the
financial position of the Company.

ITEM 3. CONTROLS AND PROCEDURES

Based on their evaluation of the issuer's disclosure controls and procedures (as
defined in 17 C.F.R.  Sections  240.13a-14(c)  and  240.15d-14(c))  as of a date
within 90 days prior to the filing of this quarterly report,  the issuer's chief
executive  officer and chief financial  officer concluded that the effectiveness
of such controls and procedures was adequate.

There were no significant  changes in the issuer's internal controls or in other
factors that could significantly affect these controls subsequent to the date of
their  evaluation,  including any corrective  actions with regard to significant
deficiencies and material weaknesses.




















                                       10
<PAGE>

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

There are no  material  pending  legal  proceedings  to which the Company or its
subsidiary party or of which any of their property is the subject.

ITEM 2.  CHANGES IN SECURITIES

Not Applicable

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

Not Applicable

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

There were no matters  submitted to security holders for a vote during the three
months ended March 31, 2003.

ITEM 5.  OTHER INFORMATION

None

ITEM 6. EXHIBITS AND REPORT ON FORM 8-K

99.1     Certificate of The Chief  Executive  Officer pursuant to Section 906 of
         the Sarbanes-Oxley Act of 2002.
99.2     Certificate of The Chief  Financial  Officer pursuant to Section 906 of
         the Sarbanes-Oxley Act of  2002.








                                       11
<PAGE>

SIGNATURES


Under the requirements of the Securities Exchange Act of 1934, the Bank has duly
caused this report to be signed on its behalf by the undersigned  thereunto duly
authorized.




            DARLINGTON COUNTY BANCSHARES, INC.
                    Name of Bank



By:  /s/ W. B. McCown, III                               Date: May 15, 2003
     -------------------------------------------               ---------------
     W. B. McCown, III, President and
     Chief Executive Officer


By:  /s/ Henry M. Funderburk                             Date: May 15, 2003
     -------------------------------------------               ---------------
     Henry M. Funderburk
     Executive Vice President & Chief Financial Officer














                                       12
<PAGE>

                                  CERTIFICATION

I, W.B. McCown, III, certify that:

1.   I have reviewed this quarterly  report on Form 10-QSB of Darlington  County
     Bancshares, Inc.;

2.   Based on my knowledge,  this  quarterly  report does not contain any untrue
     statement of a material fact or omit to state a material fact  necessary to
     make the statements  made, in light of the  circumstances  under which such
     statements  were made, not misleading with respect to the period covered by
     this quarterly report;

3.   The  registrant's  other  certifying  officers  and I are  responsible  for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

a)   designed such  disclosure  controls and  procedures to ensure that material
     information   relating  to  the  registrant,   including  its  consolidated
     subsidiaries,  is  made  known  to  us by  others  within  those  entities,
     particularly  during  the period in which  this  quarterly  report is being
     prepared;

b)   evaluated the  effectiveness of  the registrant's  disclosure  controls and
     procedures as  of  a  date  within 90 days prior to the filing date of this
     quarterly report (the "Evaluation Date"); and

c)   presented in this quarterly report our conclusions  about the effectiveness
     of the disclosure controls and procedures based on our evaluation as of the
     Evaluation Date;

4.   The registrant's other certifying  officers and I have disclosed,  based on
     our most recent  evaluation,  to the  registrant's  auditors  and the audit
     committee of  registrant's  board of directors (or persons  performing  the
     equivalent functions):

a)   all  significant  deficiencies  in the  design  or  operation  of  internal
     controls which could adversely affect the  registrant's  ability to record,
     process,  summarize and report  financial data and have  identified for the
     registrant's auditors any material weaknesses in internal controls; and

b)   any fraud,  whether or not  material,  that  involves  management  or other
     employees  who  have  a  significant  role  in  the  registrant's  internal
     controls; and

5.   The  registrant's  other  certifying  officers and I have indicated in this
     quarterly report whether or not there were significant  changes in internal
     controls  or in other  factors  that could  significantly  affect  internal
     controls  subsequent to the date of our most recent  evaluation,  including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.

Date:  May 15, 2003                         /s/ W.B. McCown, III
       --------------                       ---------------------------
                                            W.B. McCown, III
                                            President, Chief Executive Officer


                                       13
<PAGE>

                                  CERTIFICATION

I, Henry M. Funderburk, certify that:

1.   I have reviewed this quarterly  report on Form 10-QSB of Darlington  County
     Bancshares, Inc.;

2.   Based on my  knowledge,  the  financial  statements,  and  other  financial
     information  included  in this  quarterly  report,  fairly  present  in all
     material respects the financial  condition,  results of operations and cash
     flows of the  registrant  as of, and for,  the  periods  presented  in this
     quarterly report;

3.   The  registrant's  other  certifying  officers  and I are  responsible  for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

a)   designed such  disclosure  controls and  procedures to ensure that material
     information   relating  to  the  registrant,   including  its  consolidated
     subsidiaries,  is  made  known  to  us by  others  within  those  entities,
     particularly  during  the period in which  this  quarterly  report is being
     prepared;

b)   evaluated the  effectiveness of  the registrant's  disclosure  controls and
     procedures as of a date within 90 days  prior  to  the  filing date of this
     quarterly report (the "Evaluation Date"); and

c)   presented in this quarterly report our conclusions  about the effectiveness
     of the disclosure controls and procedures based on our evaluation as of the
     Evaluation Date;

4.   The registrant's other certifying  officers and I have disclosed,  based on
     our most recent  evaluation,  to the  registrant's  auditors  and the audit
     committee of  registrant's  board of directors (or persons  performing  the
     equivalent functions):

     a)  all  significant  deficiencies  in the design or  operation of internal
         controls  which  could  adversely  affect the  registrant's  ability to
         record,   process,   summarize  and  report  financial  data  and  have
         identified  for the  registrant's  auditors any material  weaknesses in
         internal controls; and

b)   any fraud,  whether or not  material,  that  involves  management  or other
     employees  who  have  a  significant  role  in  the  registrant's  internal
     controls; and

5.   The  registrant's  other  certifying  officers and I have indicated in this
     quarterly report whether or not there were significant  changes in internal
     controls  or in other  factors  that could  significantly  affect  internal
     controls  subsequent to the date of our most recent  evaluation,  including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.

Date:  May 15, 2003                         /s/ Henry M. Funderburk
       --------------                       -----------------------
                                            Henry M. Funderburk
                                            Executive Vice President &
                                            Chief Financial Officer



                                       14